Specialists: Iraqi private banks far from the global financial crisis

Specialists: Iraqi private banks far from the global financial crisis

on 7.9.2012


He specialized in the field of economics that most of the Iraqi private banks and the 34 banks have been able to achieve the required level of capital for the year 2012 set by the Central Bank of Iraq at 150 billion dinars (128.8 million dollars), an indicator of high financial capacity .

And the development of the Central Bank of the three-phase program in 2009 for banks to raise capital in a move to strengthen the capacity of banks to deal with any crisis you may encounter in a country still trying to rebuild an economy damaged after years of war and economic sanctions .

And ended the first phase by the end of June 2011, when most banks and reached to the level of capital of 100 billion dinars .

In June 2012, many banks have increased its capital to 128.8 million dollars and the third phase completed in June 2013 the level of capital required of $ 215 million .

The denominator is harmful to the deputy governor of Central Bank of Iraq last week that increasing the capital of private banks is aimed at strengthening banks to have the capacity to absorb any losses .

Abdul Aziz al-Hassoun of the Executive Director of the Association of Iraqi private banks that access to capital target easily achieved in many banks .

He added that 80 percent of the banks increased their capital and overcome some of the required levels, where it was not a dilemma .

Iraq has seven OPEC member state-owned banks and 23 private banks and 11 Islamic banks, according to a special website of the Central Bank .

The two banks and two government and two Rafidain and Rasheed most banking activities, while most of the activity is limited to private banks in deposit services and personal lending is a small part of its activity .
Source: alestiqama